How to Register your Company in Nigeria – Do you have a business in Nigeria? Are you thinking of establishing a business in Nigeria?. Then you must register your business with the Cooperate affairs commission. This is an Agency which is empowered by the company and Allied matters Act 1990, Pursuant to section 659 to register companies in Nigeria.
You are welcome! this article will give you a comprehensive guide to Company registration in Nigeria. Registering your company in Nigeria is as important as survival in business, it constitute the foundation of your business as far as running your business is concerned.
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Guide On How To Register Your Company in Nigeria
Lets see why it is important to register your company before we talk of how to do that.
Why You Need To Register your Company
- Registering your company provides legal liability protection to your company. Moreover it also builds up trust in the heart of your clients.
- It helps you secure your company name before someone else takes it, early registration helps you secure your company name.
- Registering your company allows you to open a corporate account with your business name.
Now that you have known the importance of registering your company. How do you proceed to register your business in Nigeria? The steps are very simple.
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How To Register Your Company in Nigeria
Here are practical steps on how you can go about it.
1. Determine the name you want your business to bear. Choose a name for your business and one alternative because that name might have been taken by someone else.
2. Go to any commercial bank. Tell the banker you want to pay into the federal government‘s joint account in respect of the cooperate affairs commission for the name reservation. The banker will help you pay 500 Naira into the appropriate account and give you a print out and a copy of the pay-in-slip.
3. Go to a nearby cooperate Affairs commission. CAC has branches in every state of Nigeria usually the capital. Submit the printout after they might asked you to make a copy of it.
4. Visit back in the next one or two weeks. Visit back to check if your company name is approved. If for any reason your proposed is not approved, you will have to choose another name and repeat the whole process again (sorry if this happens to you). But if your name is approved
5. Obtain the necessary forms. Fill the forms, attach photo passport and submit.
Your company name is registered!!!
Now is the time, go ahead and register your company, with the simple guide above on how to register your company in Nigeria. If you delay doing that you will be disappointed later to find out your precious company name has been taken by someone else and it will be too late then.